BMG Group Inc. Announces Custodian Changes
MARKHAM, ON – (March 31, 2021) – Due to the departure of ScotiaMocatta from the precious metals trade, BMG Group Inc. (BMG) is pleased to announce the appointment of RBC Investor Services Trust (operating as RBC Investor & Treasury Services) as custodian for the BMG Funds and the appointment by the custodian of the Royal Canadian Mint (the Mint) and certain sub-custodians of the Mint, including Brink’s Canada Limited (collectively with its global affiliates, Brinks), as sub-custodians of the BMG Funds.
“RBC Investor & Treasury Services has been the back office service provider for BMG Mutual Funds for many years, and we are delighted to continue our efforts together pursuing the highest global standards for bullion purchase, storage, integrity and security for our clients,” said Nick Barisheff, BMG’s founder, president and CEO.
In response to its clients’ needs for secure, allocated storage solutions with the London Bullion Market Association member vaults, BMG partnered with Brinks in 2014 to provide allocated storage solutions in LBMA-member vaults.
“On behalf of BMG’s present and future bullion clients, we are very proud of the work and effort involved in the transition, and we look forward to a successful partnership,” stated Barisheff.
About BMG
BMG is a privately held Canadian alternative asset management company established in 1998. Its investment products are focused on one asset class – uncompromised precious metals bullion.
BMG is one of three Canadian companies to achieve the status of becoming an Associate Member of the London Bullion Market Association (LBMA). BMG is a signatory to the Principles of Responsible Investment (PRI). The PRI is the world’s leading proponent of responsible investment. For further information, visit: bmg-group.com
About BMG Funds
The funds are open-end mutual funds, thus providing the same liquidity as their underlying precious metal assets; BMG does not trade or attempt to time the market; and BMG Funds have no exposure to counterparty risk. Physical bullion in BMG Funds is stored on an allocated and insured basis.
BMG BullionFund is the world’s first and only open-end mutual fund trust that purchases equal dollar amounts of gold, silver and platinum bullion.
BMG Gold BullionFund is an open-end mutual fund trust that purchases only gold bullion.
BMG Silver BullionFund is an open-end mutual fund trust that purchases only silver bullion.
BMG Diversified Hedge Fund seeks to achieve long-term capital growth and income, and to surpass the Canadian Balanced Fund Index. BMG’s Diversified Hedge Fund is designed to take advantage of a major market correction in the global financial markets through a unique two-stage investment strategy.
About BMG Physical Bullion Group
BMG Physical Bullion Group has two main products: BMG BullionBarsTM & BMG BullionCoinsTM:
- It allows clients worldwide, through the use of BMG’s unique, secure and transparent software system, to easily purchase and store individual bars of investment-grade Good Delivery gold, silver and platinum bullion, on an allocated and insured basis.
- With each bullion bar purchase, ownership of the bar is transferred to the purchaser and evidenced with a unique Bullion Deed issued in the client’s name, showing the bar weight, assayer, purity and bar serial number.
- The BMG BullionBars program ensures that the purchaser holds undisputed ownership of the bars in storage on an allocated and insured basis. Clients and auditors can inspect bullion holdings at any time.
- Allocated storage is available in Toronto, Montreal, Calgary, Vancouver, Hong Kong, Singapore, Dubai, Geneva and Panama.
- Bars held in allocated storage do not form part of the custodian’s assets and may not be leased into the market or used in any way.
For media inquiries, please contact:
Marty Nicandro
Vice President & General Manager
905. 415.2958
m.nicandro@bmg-group.com
To view/download a PDF of this release
View Intrado GlobeNewswire Release